KuCoin is a cryptocurrency exchange considered one of the most popular among ranked global crypto exchanges, and it is a simple and safe platform worldwide. It is an easy-to-use trading platform for digital assets like Bitcoin, Ethereum, Litecoin, Ripple (XRP), etc.
In addition, KuCoin is well-known for its spotlight IEO platform or token launch platform. Cryptocurrency lending is yet another unique feature of the KuCoin exchange. Also, KuCoin users can access many platform features, like purchasing crypto with a credit and debit card, staking rewards, swapping crypto with zero fees, and more.
Crypto lending enables users to lend crypto tokens to borrowers to earn interest. Soon after the first crypto token, many other cryptocurrencies forayed into the mainstream. These crypto-assets are responsible for the high volatility of the broader crypto market, making them ideal for speculative investments.
Initially, the fiat currency exchanges did not support cryptocurrency trading. Thus, cryptocurrency exchanges existed, enabling crypto investors to buy and sell crypto tokens. KuCoin cryptocurrency exchange is suitable for both experienced traders and beginners. This KuCoin review depicts an in-depth understanding of the cryptocurrency exchange and our final verdict.
|Supported Fiat Currencies||50+|
|Supported Countries||UK, US, Canada, Australia, Singapore, India, Russia, & more|
|Transaction Fees||For Spot
Maker Fee – 0.1% to -0.005%
Taker Fee – 0.1% to 0.025%
Maker Fee – 0.02% to -0.015%
Taker Fee – 0.06% to 0.03%
|Withdrawal Fees||Depends on the currency involved|
After the inception of the first crypto exchange, many other exchanges followed—however, only a few global reaches. KuCoin trading platform is one such platform that offers more than crypto services (buy or sell cryptos); it also enables investors to lend cryptocurrencies for interest. As an end-to-end trading solutions provider, KuCoin is designed to make trading easy with many products like automated bots.
What Is KuCoin Exchange?
KuCoin is a crypto exchange headquartered in Seychelles. KuCoin crypto exchange’s service is not limited to buying and selling or exchanging crypto tokens for altcoins or fiat legal tender. In addition, KuCoin’s crypto loan service for specific interest rates differs from the other crypto exchanges worldwide.
The website is quite simple and easy to navigate. It is subdivided into various sections for easy signup, after which one can start trading. The collection of supported cryptocurrencies and fiat currencies is quite impressive. In addition, KuCoin offers multiple auto-trading and financial tools like trading bots and cryptocurrency lending, making it a preferred exchange for passive earnings.
Considered the best Singapore crypto exchange with a worldwide reach to work with, KuCoin is a convenient option accessible from most countries. Nevertheless, US citizens above the FBAR threshold must include it in FBAR filings as KuCoin is a non-US-based exchange.
KuCoin Review: Pros and Cons
|Over 600 popular cryptocurrencies are supported.||Does not support trading of fiat pairs.|
|Multiple payment methods.||Different markets support multiple trading pairs.|
|Supports the exchange of fiat-to-crypto and vice versa.|
|Easy to download mobile apps for Android and iOS devices.|
|Availability of micro withdrawal wallets.|
|Comparatively lower trading fees|
KuCoin SignUp Process
KuCoin offers many services other exchanges offer than crypto trading, such as lending bitcoin, lending cryptocurrencies spotlight IEO, etc. If this is your first time in the crypto domain, the easiest way to trade crypto using this platform is to create an account and start trading.
The different facets of the KuCoin platform have their steps or protocols. For instance, the following are the steps involved in creating an account on the KuCoin exchange platform, which is very simple and takes a few minutes to create an account with KuCoin.
Step 1: Sign Up
Visitors can either sign up using a valid email address or phone number.
Step 2: Enter the Verification Code
Depending on the type of method chosen, a verification code is sent to the provided email ID or phone number.
Step 3: Set a Password
Once the provided code is entered in the allotted slot, the next step involves setting a password to complete the registration process. After registration, the user can begin trading in crypto.
KuCoin Demo Trading Account
Cryptocurrency trading may be overwhelming even to the most advanced traders out there. But, understanding the workings of the financial markets paves the way to profits. While this requires individuals to have sound market knowledge regarding price movements, it also involves trading strategies and practices to succeed.
Demo trading accounts are thus an easy solution to create trading strategies that work. It also helps new traders to get familiar with market performance. KuCoin offers a demo account for individuals who are new to trading.
KuCoin is known as the top 1 altcoin platform, supporting 600+ tradable assets. It is also described as a platform enabling international users to profit from many services and products by many KuCoin reviews. The site features safety and security measures that minimize the risks of trading crypto digital assets.
From automated trading robots to advanced API solutions for better trading strategies, the KuCoin platform features end-to-end trading solutions.
KuCoin Products & Services
As stated earlier in this KuCoin exchange review, the platform offers various products and services, from trading crypto-assets and derivatives to lending crypto tokens. VERSE, the Bitcoin.com ecosystem’s native token, is functional on KuCoin, its first exchange platform. This allows crypto traders with VERSE added to their portfolios to attain significant advantages, in addition to newer traders receiving incentives and gamifying their trading experience.
The products include:
- Spot Trading
- Margin Trading
- Futures Contracts or derivatives ETF
- KuCoin Earn (Staking Platform)
- Spotlight (IEO Platform)
- Crypto Lending
- KuCoin Pool
- KuCoin Ventures
- KuCoin Labs
- KuCoin Affiliate Program
- KuCoin Community Chain
- KuCoin NFT
The services include:
- KuCoin P2P
- KuCoin Trading Bot
- Special privileges for API users
- Buy cryptocurrency with fiat currency services
- KuCoin NFT Trading, Investing, Marketplace
Spot trading or instant trading allows KuCoin users to buy/sell cryptocurrencies instantaneously for a spot exchange rate.
KuCoin spot trading has fixed trading fees of 0.1% for makers or takers, which is an excellent reason to use KuCoin. Compared to crypto exchanges like Binance, it is low. The 30-day trade volume alongside KuCoin Token (KCS, KuCoin’s native token) holdings will reduce the trading fees.
How to Spot Trade Using KuCoin?
The steps involved are as follows;
- First, choose the ‘Trading’ option under the ‘Trade’ tab.
- Upon clicking that option, the trading market opens. USDT, BTCS, ALTS, KuCoin shares, KCS, etc., are significant opportunities in this section. One can also find different trading pairs in the other markets, and the prices may vary based on the selected market. For instance, when a trader wants to buy KCS using BTC, they must choose the BTC market and search for KCS utilizing the search tab.
- KuCoin cryptocurrency exchange offers four order types: Limit Order, Market Order, Stop Limit Order, and Stop Market Order or Market Stop-Loss Order.
Based on the user requirement, one can choose the above for trading.
This service was introduced in November 2019. It enables traders to use the crypto coin of other traders to acquire a higher capital amount for leverage positions. Cryptocurrency tokens typically used for this type of trading on KuCoin include KCS (KuCoin Token), BTC, ETH, etc.
This KuCoin feature is ideal for long and short-trading positions, offering up to 10x leverage.
KuCoin Leveraged Tokens
The risk factor associated with leveraged tokens must be improved as they never liquidate. Thus, irrespective of price fluctuations or market uncertainty, the price of leveraged tokens never becomes zero. ETF offerings from KuCoin are simple to use and user-friendly, making them apt for new traders or beginners. All traders must choose ETF types in bullish or bearish markets and trade them on the KuCoin crypto exchange.
KuCoin Futures Trading
KuCoin futures trading or contract trading service was previously known as KuMEX. This service allows KuCoin users to buy/sell the assets’ future standard contracts. The buyer orders a crypto asset for a specific price and time (future), while the seller must deliver the asset at the agreed-upon time and price.
KuCoin supports margin trading with up to 100x leverage. The significant advantage of this high leverage is that it enables the trader to trade contracts worth more than the trading funds in their financial account. Some of the popularly traded contracts include BTC and USDT.
It is usually of two types; Futures Lite and Futures Pro. As the name indicates, the former is for beginners, and the Pro version is for advanced traders or professionals.
KuCoin’s Futures Lite enables USDT-margined Bitcoin and Ethereum contracts’ trade. Futures Pro offers the following options; USDT-margin Perpetual contracts of BTC, ETH, and over 70 other cryptocurrencies. Coin-margin Perpetual contracts of BTC, ETH, DOT, and XRP. BTC Quarterly contracts.
KuCoin Earn (previously named Pool-X) is a staking platform that allows users to earn interest via staking Proof-of-stake cryptocurrencies like TOMO, ATOM, KCS (KuCoin Token), XTZ, IOST, TRX, ZRX, among others. This service offers highly flexible and diversified products, including Saving, Staking, and Promotions, which help users earn rewards from a robust reward system and a stable passive income.
Crypto Lending or Crypto Loans
As mentioned at the beginning of this review, Crypto Loans are one of the unique features of the exchange platform. It allows crypto investors to loan cryptocurrency tokens for a specific interest rate.
KuCoin Lend allows investors to loan digital tokens to other users for margin trading. The loan tenure ranges from 7 to 28 days, where the lender can earn up to 12% annualized interest. Cryptocurrencies available for this service include USDT, ADA, TRX, ETC, ZEC, and LTC, among others.
KuCoin Peer-to-peer enables investors to move or exchange cryptocurrencies from their KuCoin accounts to other users’ accounts without going through a broker or financial institution. Here, buyers and sellers rely on the digital transfer of the crypto and fiat currencies. Hence, it is also referred to as the instant exchange.
KuCoin users can buy and sell crypto coins like BTC, ETH, LTC, etc., via the KuCoin P2P marketplace. KuCoin is one of the few crypto exchanges that support multiple payment options. It allows users to exchange crypto instantly, and users can purchase crypto using fiat currencies like USD, EUR, GBP, CAD, IDR, AUD, etc. International users can also choose a payment method like PayPal, Transferwise, Bank transfer, etc.
KuCoin Trading Bot
Trading bots are an ideal means of earning passive income by minimizing losses. The KuCoin mobile app offers five trading bots: Spot Grid, DCA, Futures Grid, Infinity Grid, and Smart Rebalance.
Automated trading robots are extremely useful for earning a passive income regardless of the crypto asset traded via the exchange. KuCoin’s trading bots allow traders to employ five trading strategies: the classic grid, futures grid, and DCA.
Classic grid is a simple trading strategy for profiting from market fluctuations via selling orders and buying positions. It involves buying orders when the price is down and selling them for a higher price. Traders can optimize the trading robot even when they do not have adequate market knowledge. KuCoin’s trading bots rely on AI, and the classic grid version is ideal for beginners.
The way a Futures Grid Bot works is similar to a Spot Grid Bot, as both can earn passive income by buying low and selling high. But Futures Grid has two unique features to help investors increase their profits.
Smart Rebalance can assist holders in further increasing their returns. The core of this strategy is to increase the total amount of holdings while maintaining the pre-set portfolio percentage. Assuming that you want to allocate 40% of your fund to BTC, 30% to ETH, and 30% to KCS, if you are holding, the portfolio will alter with the changing value of these tokens.
The Smart Rebalance Bot will rebalance the percentage according to your expectations once it deviates from the initial settings.
DCA bot or Dollar Cost Averaging is ideal for professional traders who buy cryptocurrencies daily as it employs a repetitive strategy. All KuCoin bots perform technical analysis to minimize trading risks.
The Infinity Grid is designed to avoid “missing out” on the crypto pumping. Unlike Spot Grid Bot, which places orders with a fixed number, Infinity Grid Bot places orders in percentages with no upper limit.
KuCoin Ventures is a recent initiative KuCoin took to develop and expand the cryptocurrency industry. It was launched in 2021 and has gathered over 200 foundations and investment institutions. KuCoin Ventures has also efficiently performed and invested in over 50 blockchain firms through 2022.
KuCoin Labs is an incubation and research initiative invested in digital projects across Web 3.0, GameFi, Infrastructures, and other categories. In 2022, it invested about $15 million in over 30 crypto-based projects and three blockchain funds. It has also enhanced its influence by sponsoring multiple blockchain summits across the Middle East, Europe, Asia Pacific, and North America.
Additionally, KuCoin Labs has built valuable partnerships with over 800 projects in 2022. KuCoin Labs recently announced, in December 2022, its launch of the long-term incubation program called The Astro Selection, which aims to accelerate developers and aid sustainable growth within the crypto industry. It also aims to promote further development of NFT, Blockchain gaming, and Metaverse sectors.
KuCoin Affiliate Program
KuCoin has the world’s most rewarding affiliate program, offering every partner a chance to earn up to 50% commission on KuCoin trading fees. Currently, there are over 16,000 affiliates across 140 countries. The program offers unique features like high commission, transfer and referral system, second-tier commissions, and premium brand features.
Second-tier commissions refer to the commissions the KuCoin affiliates earn rewards when their friends join the KuCoin Affiliate Program.
KuCoin Community Chain (KCC)
KuCoin Community Chain, or KCC, was developed by KuCoin and KCS fans. It registered substantial growth in 2022 with increased projects deployed or integrated on the KCC platform, including NFT, GameFi, DeFi, Web 3.0 infrastructure, and many more.
The on-chain addresses on KCC also grew by over 500% by mid-2022 to almost 600,000 by December. The Community Chain also announced an incentive plan for the ecosystem with up to $50 million, which held the KCC Unicorn Contest, attracting over 100 projects, out of which more than 40 were successfully deployed on the KuCoin Community Chain.
Buy Crypto With Fiat Currency Services
This KuCoin exchange review indicates that the trading platform supports multiple payment methods for buying cryptocurrencies using fiat currencies like USD, EUR, AUD, CAD, GBP, etc. KuCoin has the lowest trading fees, even before the trading fee discounts and bonuses; you can use this platform to buy or sell cryptocurrencies.
KuCoin supports debit and credit card purchases via Visa, MasterCard, ApplePay, and SEPA. KuCoin Peer-to-peer exchange offers bank transfers along with 20 different payment options. There is also a fast buy option to receive cryptocurrencies instantaneously. Investors from around the world can purchase/buy cryptocurrency with fiat currency. You can trade many different cryptocurrencies by using this crypto exchange with very low fees.
Taking traders to the world of NFTs, KuCoin introduces its range of NFT Platforms designed to cater to the needs and requirements of traders worldwide:
KuCoin Wonderland is an intuitive and interactive launch platform for NFTs designed by the KuCoin trading platform for traditional and crypto games. With Wonderland, users can enjoy a seamless, centralized experience managing, investing in, buying, and trading in-game NFTs.
Additionally, Wonderland supports Polygon and KCC while the operators work consistently to incorporate more networks like SLP, BSC, and ETH. Users can launch their in-game items through auctions, mystery boxes, or flat sales on the Wonderland NFT platform.
KuCoin Windvane Marketplace
KuCoin celebrated its 5th anniversary with the KuCoin Windvane marketplace launch, allowing NFT creators to buy, sell, and swap NFTs effectively. KuCoin offers personalized benefits like whitelist priority, low-cost products, a completely decentralized NFT marketplace with the utmost security features, fewer restrictions to entry, and a wealth of premium-quality projects for all crypto users.
KuCoin Fractional NFTs
KuCoin has built a bridge between the centralized and decentralized worlds by providing a Fractionalized crypto trading protocol, especially for blue-chip NFTs. Users can enjoy the benefits of having fractionalized fungible tokens (FTTs) with no barriers to entry, a centralized trading experience, and other advanced trading features.
KuCoin Fees Overview
KuCoin Exchange does not charge deposit fees for cryptocurrencies. However, standard bank charges apply in the case of fiat deposits. The concerned bank or payment gateway determines this. Withdrawal fees vary and depend on the cryptocurrency involved. For example, the withdrawal fee for Tether is 20 USDT, while it is 1 ADA for Cardano.
The trading fees vary as per the trading, like spot or margin trading. It also depends on the funds held in the trader’s KuCoin account. The standard trading fee decreases based on the KSC holding for a 30-day trading volume. It is thus divided into various levels, which are as follows for spot and futures trading.
Spot Trading Fees
KuCoin has very low trading fees of 0.1%. An important point to note is that the fees decrease based on the 30-day trading volume of KCS holdings in the user account, which is as follows;
|Tier||Min. KCS holding (30 days)||Maker/Taker fee|
|LV 0||0||0.1% / 0.1%|
|LV 1||1,000||0.09% / 0.1%|
|LV 2||10,000||0.07% / 0.09%|
|LV 3||20,000||0.05% / 0.08%|
|LV 4||30,000||0.03% / 0.07%|
|LV 5||40,000||0% / 0.07%|
|LV 6||50,000||0% / 0.06%|
|LV 7||60,000||0% / 0.05%|
|LV 8||70,000||-0.005% / 0.045%|
|LV 9||80,000||-0.005% / 0.04%|
|LV 10||90,000||-0.005% / 0.035%|
|LV 11||100,000||-0.005% / 0.030%|
|LV 12||150,000||-0.005% / 0.025%|
Futures Trading Fees
The futures’ USD/USDT lending rates are adjustable as they could have positive or negative values. Funding for futures trades occurs once every 8 hours, and the value is calculated accordingly.
|Tier||Min. KCS holding (30 days)||Maker/Taker Fee|
|LV 0||0||0.02% / 0.06%|
|LV 1||1,000||0.02% / 0.06%|
|LV 2||10,000||0.015% / 0.06%|
|LV 3||20,000||0.01% / 0.05%|
|LV 4||30,000||0.01% / 0.04%|
|LV 5||40,000||0.01% / 0.04%|
|LV 6||50,000||0% / 0.038%|
|LV 7||60,000||0% / 0.035%|
|LV 8||70,000||-0.003% / 0.032%|
|LV 9||80,000||-0.006% / 0.03%|
|LV 10||90,000||-0.009% / 0.03%|
|LV 11||100,000||-0.012% / 0.03%|
|LV 12||150,000||-0.015% / 0.03%|
However, there are no deposit fees taken by KuCoin, but withdrawal fees vary for various currencies so that you can check them here.
Supported Fiat Currencies
KuCoin supports the following fiat currencies; EUR, GBP, USD, RUB, AUD, JPY, TRY, KRW, CAD, IDR, VND, ZAR, HUF, ILS, NZD, SEK, CZK, CHF, PLN, NOK, INR, DKK, and more. Users can deposit and withdraw fiat currencies through various payment gateways ranging from P2P trading OTC to Third-party like Simplex.
KuCoin is a leading crypto exchange supporting over 600 cryptocurrencies and 1100 markets. These options include the most common cryptocurrencies and the latest and rarely known digital currencies. As stated before, there is no deposit fee to deposit crypto; however, the currency determines the withdrawal fee.
KuCoin web browser offers multiple languages, including English, Russian, Hindi, and Portuguese. As a platform with worldwide access, the website is simple with easy navigation. However, based on customer reviews, new traders find trading on KuCoin a little complex due to its advanced features. Nevertheless, the site features tutorial sections in the support and FAQ sections, making it easier to understand.
KuCoin ensures it stays current with market standards by updating the latest currency pairs, etc. There are also provisions for registering new cryptocurrencies to include them in the trading pairs. KuCoin has 1100 different additional trading pairs. An example of a trading pair is BTC/ETH, trading Bitcoin with Ethereum.
KuCoin Customer Support
Compared to its alternatives, KuCoin provides better customer service to its customers & it is available 24*7. The 24/7 live chat support or email support with quick response time is what makes KuCoin a busy cryptocurrency exchange.
Apart from the live online support, the site also features an online application form to raise user concerns. KuCoin also has a solid social media presence where customers can reach the customer support team on platforms like Facebook, Twitter, and LinkedIn. The KuCoin team is always there to support its users.
The security KuCoin offers as a decentralized trading platform competes with other cryptocurrency exchanges. The decentralized feature is the essence of transparency enhanced by blockchain technology; different safety protocols further improve security measures. KuCoin offers 2-Factor Authentication to safeguard the user account.
It additionally protects the traders’ personal information with advanced SSL encryption. KuCoin implemented many security features into its user interface. For withdrawing funds, fulfilling the KYC requirement is a must. It is strongly recommended to use KuCoin to complete the KYC verification process.
KuCoin provides one of the best trading services with advanced trading tools and customized charts that are easy to use and interpret for experienced cryptocurrency traders and beginners. KuCoin is among the best cryptocurrency exchanges in the world. Hence, this puts KuCoin on the list of top crypto exchanges. Although, it also features a myriad of services and products to cater to the needs of a broad spectrum of traders and trading preferences.
KuCoin offers low trading fees and supports over 1100 markets and 600 types of digital currencies. The customer service provided is better when compared to some of its alternatives. There is no deposit fee, and the withdrawal fees vary based on the currency. The platform offers a KuCoin wallet for its users, and users need to deposit funds into a KuCoin wallet before using the exchange.
In this KuCoin exchange review, we have covered all the information you need to know before trading. We have provided an in-depth analysis of the trading exchange platform, services, products, and other advantages and drawbacks. Besides this review, we have covered or reviewed many major exchanges.
Although numerous choices are available on this exchange, the platform delivers comprehensive support where traders can receive solutions to queries and complaints. Beginner cryptocurrency traders may need help familiarizing themselves with the services and tools that KuCoin offers.
Our verdict is that KuCoin is a simple browser and mobile app with advanced tools that make earning profits via cryptocurrency trading easy. We also expect that in the coming months or years, KuCoin will develop more advanced features, services, & products for its users. KuCoin is a significant name in the cryptocurrency industry.
Can US Citizens Use KuCoin?
Yes, US citizens can access KuCoin. However, they must file their FBAR if they fall above the FBAR threshold, as KuCoin is not based in the US.
Does KuCoin Report to the IRS?
KuCoin allows cryptocurrency holders to file taxes related to the profits made with one’s cryptocurrency holdings. Thus, depending on the trader’s country of residence, individuals can file taxes with the IRS or its equivalent.
How Do I Deposit Money Into KuCoin?
Making deposits and withdrawals at KuCoin is quite simple. Users can opt for a credit card or debit card payment option or SEPA or Apple Pay to make a deposit. The KuCoin platform allows credit card purchases.
Can I Trust KuCoin?
KuCoin is a highly regulated platform and is a popular exchange at a global level. But, our question arises, Is KuCoin legit and safe? And the answer is it is entirely safe and legal. The exchange platform enables users from most countries. However, traders must comply with the cryptocurrency laws of their respective jurisdictions before accessing the KuCoin website or KuCoin mobile app. For more information, one can also read the FAQ section of the website.
Does KuCoin Support BEP20?
KuCoin supports BEP20 tokens. Users who deposit BEP20 tokens get credited with funds in their KuCoin account. For more information, read the terms and conditions section of KuCoin.
How Can I Withdraw Money From KuCoin to My Bank Account?
To withdraw money from one’s KuCoin account, it is imperative to first login into their user account. Under the Assets tab, there is an Overview button where users can find the withdraw option. The traders must choose the currency type they wish to withdraw. Once this is done, the correct wallet address must be entered for receiving the digital currency. Lastly, account verification is to confirm the withdrawal request in the form of either email verification or two-factor authentication. After verification, the funds requested are sent to the users’ cryptocurrency wallets.